secwatch.observer — SEC 8-K summary
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Issuer:     ORRSTOWN FINANCIAL SERVICES INC (ORRF)
CIK:        0000826154
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000826154-23-000141
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orrstown Q3 net income $9.0M ($0.87 EPS); net interest margin 3.73%, loan growth 6% annualized
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- Net income of $9.0M, diluted EPS $0.87 vs $0.94 in Q2 2023; net interest margin (TE) 3.73% vs 3.83%.
- Total loans grew $32.4M (6% annualized); total deposits increased $23.6M in Q3.
- Tangible common equity ratio 7.3% (down from 7.5% at June 30) due to $11.2M after-tax unrealized losses.
- Board declared $0.20/share dividend payable Nov 14 to holders of record Nov 7.
- Non-interest expenses down $0.3M to $20.4M; provision for credit losses was $0.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000141/0000826154-23-000141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000141/orrf-20231024.htm
  HTML page:      https://secwatch.observer/filing/0000826154-23-000141

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer